Home Business Competition with China US Senate adopts billion dollar program With a 250...

Competition with China US Senate adopts billion dollar program With a 250 billion dollar program, the US wants to make up economic ground against China. The aim is semiconductor production and the research area Artificial Intelligence.

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Chuck Schumer | EPA

Competition with china US Senate passed Billion program

Status: 09.06.2021 09:01 a.m.

With a $ 250 billion program, the US wants to make up economic ground against China. The aim is semiconductor production and the research area Artificial Intelligence. The US Senate has passed a huge investment program in research and technology. Across all parties, the senators voted in favor of the package of measures designed to strengthen the US economy in competition with China. One of the goals is to advance the production of semiconductors in the USA and research in the field of artificial intelligence. Senate Democratic Majority Leader Chuck Schumer said after the vote: “If we don’t do anything, our days as the dominant superpower could be numbered.” US President Joe Biden was satisfied with the Senate decision: “We are competing for victory in the 21st century and the starting shot has been fired.” The US would have to maintain its position as “the most innovative and productive nation in the world”, according to Biden.

Production capacities decreased

According to the White House, the proportion of semiconductor production capacity in the US has fallen from 37 percent to around 12 percent of global production over the past 20 years. US companies are dependent on foreign countries, in particular on countries in Asia, which is a risk in the supply chain. Currently, many automakers and electronics manufacturers are struggling with not enough chips on the market. Among other things, the surge in demand for notebooks and other computer technology during the pandemic led to the shortage of semiconductors.

Discover the technologies of tomorrow

President Biden said the bill will enable the US to discover, manufacture and improve tomorrow’s key technologies – from artificial intelligence to computer chips to lithium batteries used in smart devices and electric vehicles – in the United States United States. The House of Representatives must also give its approval for the Investment Act to come into force. According to the US media, it could meet with resistance there.